The global Patient Portal Market size is expected to reach
USD 11.8 billion by 2030, according to a new report by Grand View Research,
Inc. The market is expected to expand at a CAGR of 19.3% from 2022 to 2030. The
demand for Electronic Health Records (EHR) with a patient portal is
expected to surge over the forecast period, owing to the increasing demand, favorable
government funding policies, and the continual technological advancements
offered by the key industrial players.
Patient portal technology has emerged due to the
introduction of the HITECH 2009 Act. It has become crucial for healthcare
providers to understand patient perspectives in terms of health data. Patient
portal solutions offer convenient usage and better care management. The market
is growing as healthcare providers and payers increasingly adopt
patient-centric strategies. As healthcare continues to evolve, several
businesses have adopted Patient-Centered Healthcare (PCH) programmes.
Incorporating new digital technologies such as EHR and patient portals with a
patient-centric strategy can offer various benefits, including increased
productivity, enhanced customer experiences, and enhanced clinical outcomes.
The healthcare payers and providers are utilizing the notion of consumerism to
enhance their services and deliver better healthcare experiences for their
users, which is expected to further propel the growth of the market.
Moreover, regulatory mandates that encourage the
deployment of digital health methods have resulted in increased EHR
penetration, which has supported the growth of the market. The increased
acceptance of the patient portals can be attributed to government agencies'
demand for database interoperability and the convenience provided by EHRs in
improving patient participation. For example, from 2007 to 2018, a study
published in the Journal of Medical Internet Research evaluated the use of EHRs
in Chinese and US institutions. According to the study, average adoption rates
in Chinese hospitals went to 85.3 % from 18.6% between 2007 and 2018, while
adoption rates in US hospitals increased to 96 % from 9.4%.
Cerner Corporation, McKesson Corporation, NXGN
Management, LLC, and Allscripts are among the leading players in the market for
patient portals. Leading firms are concentrating on the introduction of new
products, diversification & extension of their market presence, and customer
acquisition to capitalize on current business prospects. NextGen Healthcare
announced the purchase of the patient experience platform Medfusion for USD 43
million in November 2019 to improve the entire experience for its healthcare
customers.
The COVID-19 pandemic has exerted significant strain
on healthcare organizations since the start of 2020. However, EHRs have been
beneficial in overcoming these obstacles. The use of patient portals increased
significantly during the pandemic. It stood as an important tool to connect
patients to care providers. In May of 2020, the US federal government proposed
the Federal Health IT Strategic Plan 2020–2025 mandating the use of EHR by
healthcare providers. Consequently, the increasing adoption of the
patient-centric approach, the rising investments in healthcare IT
infrastructure, and the rising adoption of EHRs are augmenting the growth of
the market.
Related Press Release@ Patient Portal Market Report
Patient Portal Market Report
Highlights
- The integrated patient portals segment is projected to witness
lucrative growth in 2021 due to the rapid transition of providers from
their previous methods to EHRs
- Web-based patient portals dominated the market in 2021 in terms of
market share due to improved efficiency, affordability, and convenient
user interface
- Cloud-based portals, on the other hand, are anticipated to witness
the fastest growth rate in the forthcoming years
- In terms of end-use, the providers segment held a majority of the
market share in 2021. It is also expected to be the fastest-growing
segment over the forecast period
- North America dominated the overall market in 2021 due to the
technological advancements and implementation of healthcare IT in the
region. The Asia Pacific is expected to be the fastest-growing segment in
the forecast period.
- In March 2021, TrueCare launches the MyChart patient portal to help
patients easily access and manage their health information
About Us:
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
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